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Edward Harrison

Raising rates to beat the impact of new rules....

Thu, 11/19/2009 - 9:31am — lambert

Edward Harrison:

[T]here is an element of bad faith dealing here. The banks were given TARP funds and other, extensive types of support so they could support the economy via lending. Raising rates to beat the impact of new rules was predictable (the long lead time for implementation of the rules was no accident) but the brazenness of the banks is still remarkable.

Remind you of anything?

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Ed Harrison: It's a Depression, Watch Out for "Muscular Government"

Thu, 10/01/2009 - 10:33pm — Tony Wikrent

Edward Harrison of Credit Writedowns has a lengthy post on Naked Capitalism entitled The recession is over but the depression has just begun. Basically, Harrison has concluded that despite the fact that the national government now remains the only entity that can "pick up the slack" in generating demand to get the economy moving forward, "large scale government deficit spending is politically impossible." Hence, welcome to America's new Lost Decade.

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